3.6 Issues in Educational Finance in Our Country

1. Resolve the problem of educational finance through new perspectives The serious deficiency of educational input has impeded the normal development of education and caused deep concern among people throughout the country. What is important now is that we no longer discuss "increase" and "growth" in general terms. It is imperative that, in accordance with the strategic requirements of our country's economic growth, the old system where the state runs the whole show, a system lacking in motivation and vitality, be abolished and a new system of raising educational funds through multiple channels and using them reasonably be established through new perspectives so as to gradually resolve the problem of educational finance. The new thinking consists of the following points: a. To build up the concept that investment in education in the primary stage of socialism is essentially investment in production, to establish, through overall consideration of such factors as educational funding, teachers' salaries, and the effectiveness, quality, and scale of education, a system of educational cost accounting that is linked to the per capita Gross National Product, and to set the reasonable proportion of educational funding in Gross National Product.